AMSC Announces New Orders Valued at US$11 Million

AMSC (NASDAQ:AMSC), a global energy solutions provider serving wind and power grid industry leaders announced five new orders valued over US$11 million.

The company said that the new orders were for D-Var Statcom system with three of the orders serve the renewable connectivity sector and are expected to be used to connect wind power plants to the electric grid. Further, AMSC said that two of these orders are expected to be used for industrial power quality applications.

As quoted in the press release:

“The team continues to drive momentum in demand for our Grid products,” said Daniel P. McGahn, President and CEO, AMSC. “Our recent wins in the global renewable energy and industrial markets provide a solid foundation for what we believe will be another year of growth in our Grid business in fiscal 2018. I believe the momentum we have achieved in the D-VAR market is a result of the hard work and dedication of  individuals here at AMSC.”

Customers utilize AMSC’s D-VAR solutions to provide dynamic voltage control, power factor correction, and reactive compensation to stabilize the power grid and prevent undesirable events such as voltage collapse. The D-VAR system is designed to be able to detect and instantaneously compensate for voltage disturbances by dynamically injecting leading or lagging reactive power into the power grid.

These solutions are designed to augment the overall performance of wind farms and to enable developers to meet grid interconnection requirements. The system is a powerful, cost-effective way to provide continuous voltage regulation, improve voltage stability, meet interconnection requirements, and dynamically provide grid support where it is needed.

D-VAR reactive compensation systems are classified as Static Compensators, or “STATCOMs,” a member of the FACTS (Flexible AC-Transmission System) family of power electronic solutions for alternating current (AC) power grids.

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